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Selling a property after divorce or death Sun, 09 Feb 2014 21:01

The 3 D’s - divorce, debt, and death all fuel the supply of homes for sale in the U.K.

Divorce:

In 2012, there 118,000 divorces in England & Wales, up 0.5% on 2011.

When a couple get divorced, there can be a great deal of acrimony and both parties are eager to sever financial ties with each other.

A property owned in their joint names is probably the most significant thing tie-ing them together and, for that reason alone, some couples will sell at a discount just to be shot of one another.

In some cases, people find it even challenging to walk down the street of their former home because of unhappy memories, and therefore, they want a quick sale so that they can part ways with their former wife/husband and move on.

In cases like these, a cash sale is can be an attractive option as it is speedy and straightforward and contact between the aggrieved parties can be kept to a minimum as no estate agent or viewings are involved.  The sale is surgical and fast, and divorcing couples often see the benefits of this.

Debt

The Centre for Social Justice recently said the average U.K. household has debts of £54,000, including mortgages. This is nearly twice the level of a decade ago.

In January, the housing charity Shelter reported that one in eleven people feared that they would not be able to keep a roof over their head this year.

38% of people surveyed were expecting to struggle or fall behind with their rent or mortgage in 2014.

If a tenant falls behind with the rent, the landlord can also start to fail financially as he may not be able to meet the mortgage payments without receiving the rent.

Once a mortgage has gone more than two months in arrears, the lender can start repossession proceedings.

This means that both home owners and landlords can face losing their property.

Heavy credit card debt is also another growing problem as, due to tighter credit referencing, people who used to borrow more on credit cards and loans to keep their head above water, are now finding that they cannot get more credit to survive.

With a property being most people's major asset, in all of these situations, as quick sale can be the answer to pay off creditors and start afresh.

Death

When someone inherits a property, they often don't want to keep it and look to sell it quickly to release the money from it.  If a property has been left to a number of individuals, they may all want a quick sale to get their share of the money.

Find out more on our blog about selling an inherited property.

So for all of the "three D's" a quick cash sale can be a viable solution.

Whilst all of these "D" scenarios can be emotive and even highly distressing, practical actions sometimes help ease the pain. Selling a property quickly for cash could even be perceived as a lifeline to some people who cannot cope with these challenging circumstances.

At Dream House Buyer we have experienced many of these situations and aim to provide a discrete, caring, and professional approach.

You can contact us for a no obligation cash offer for your property. This will help you understand the options open to you and make a more informed choice as to what action to take with regards to the sale of the property.

Should you with to go ahead with our offer, as genuine cash buyers we can complete in any time to suit you, and you are guaranteed of a cash lump sum in your bank on a date nominated by you, to help you move on with your life.

Dream House Buyer is a family owned property company that considers all types of property, and we buy property with sitting tenants too. We will make an instant cash offer for any property in the UK, regardless of the size, location, condition or value.

We will buy any property that you might consider a problem - including property with sitting tenants, flats with short leases, problem tenants, unmortgageable and structurally damaged property.  We also buy ground rents and portfolios. If you think we can help, then please invite us to make you an immediate cash offer for your property.

Contact us on 0800 1577 497 or email us info@dreamhousebuyer.co.uk




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